Takeover by Zenith expands expertise in vehicles field
Published Date:
12 May 2008
By Peter Edwards
A YORKSHIRE fleet management firm has snapped up an employee car ownership (ECO) specialist.
Leeds-based Zenith Vehicle Contracts acquired Provecta, of Reading, for an undisclosed sum to create the largest independent leasing, fleet management and vehicle outsourcing business in the UK.
The deal means Zenith now has a fleet of 26,000 vehicles as well as a presence in the south of England.
Andrew Cope, chief executive, said: "This is a very exciting development for us. Provecta is an excellent business and is widely recognised as the UK's foremost expert in delivering ECO schemes."
Senior Provecta employees will join the Zenith board as directors and as significant shareholders.
Zenith will be able to advise customers in light of changes to vehicle taxation announced in the Budget and the obligations imposed by the new Corporate Manslaughter Act, Mr Cope added.
He believes the purchase will strengthen Zenith's long-term prospects. "The most cost-effective solution for fleets in the future will be delivered by fleet providers which have the full range of specialist products and services at their disposal.
"Our ability to deliver a new approach to a company's total transport needs is what makes this deal really exciting."
Nick Sutton, chief executive of Provecta, will join Zenith as group development director.
He said: "Zenith and Provecta customers will see significant value enhancement from our combined strengths.
"The merger means we can deliver a cost-effective one-stop shop for every potential driver in a fleet – whether a company car, ECO driver or cash taker."
Zenith's clients include BP, Asda, Atkins, Ernst & Young and Persimmon Homes.
The full article contains 295 words and appears in n/a newspaper.
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Last Updated:
12 May 2008 8:25 AM
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Source:
n/a
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Location:
Yorkshire